Ex-Genetic Engineer / Perpertual Traveler / Selective Misanthrope / Mentally disabled
Switzerland
Joined September 2017
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Everything is priced in.
Don’t even ask the question. The answer is yes, it’s priced in. Think HYPE will pump on the next buyback? That’s already been priced in. You found out the NYSE parent company just took a stake in trade[XYZ] and is going to run a US-regulated perp venue called ICE[XYZ]? Priced in. You think Jeff Sprecher didn’t already know that when he called Hyperliquid “bigger than Nasdaq” back in May? You think the 11 guys running a $650B volume exchange from a Discord didn’t know ICE would come crawling?
Stan Druckenmiller made his first and only tweet ever to say he’s an investor in trade[XYZ] and can’t wait to use 24/7 perps on Hyperliquid to “enhance his investment process”? Priced in. The man shorted the pound with Soros in 1992 specifically so that, 34 years later, he could break a lifetime of Twitter silence to shill a HIP-3 deployer. His account sat empty for years because the market had already priced in exactly one tweet. 8.7M views? Priced in. The typo “to to” was priced in. Elon quote-tweeted it with “Interesting”? Priced in. That single word was priced in the moment Satoshi mined the genesis block. Elon has been saving “Interesting” since 2009 for this exact moment. The Polymarket “Will Elon tweet Hyperliquid” market was priced in. The fact that he didn’t actually type the word “Hyperliquid,” so the guy holding NO at 89 cents survives on a technicality, was priced in. The YES holder screenshotting it to the UMA dispute channel was priced in. His tears were priced in.
The market is an all-powerful, all-encompassing being that knows the very inner workings of your subconscious before you were even born. Your very existence was priced in decades ago when the market was valuing Standard Oil’s expected future earnings based on population growth that would lead to your birth, what age you would get a car, how many times you’d open the HL app per day, how many times you’d get liquidated on a 40x XYZ:NVDA long at 3am, and how many times you’d tell your girlfriend “this is the last time.” Anything you can think of has already been priced in, even the things you aren’t thinking of. You have no original thoughts. Your consciousness is just an illusion, a product of the omniscient orderbook. Free will is a myth. The market sees all, knows all, and will be there from the beginning of time until the end of the universe (Hyperliquid has already listed a perp on the heat death of the universe, and trade[XYZ] won the HIP-3 auction for it).
So please, before you make a post on CT asking whether HYPE has priced in the ICE deal, Druck’s first tweet, Elon’s “Interesting,” or whatever, know that it has already been priced in and don’t ask such a dumb fucking question.
Zky retweeted
Introducing Intel Trade.
Hyperliquid established a new paradigm:
All Finance on-chain, with full transparency.
Intel turns that data into Intelligence, giving traders the tools to make better decisions.
After a gated F&F phase, Intel is now opening access to more traders.👇
Everyday it's getting worse.
This, and attacking @MagicalTux is so embarracing for @Ledger.
@EricLarch, I know you’ve moved on to taking about flying cars, but your name is still on this company and so is a quarter of the cap table. Get this guy out. It's more than a PR issue.
My X feed bearish but @cburniske is bull posting. I couldn't ask for a better setup in Q4 2026
10/10/25: shat in my old pants watching the chart
10/10/26: bought a $2k pair on @papertrade_xyz before getting liquidated again
Character development
Zky retweeted
I think Justin Drake's latest alarmism/vagueposting is going to do a ton of damage in multiple ways. It's basically a huge self-own for their own advocacy work on quantum stuff.
Threats from quantum/AI are real, and teams throughout this industry are making considered decisions about how to respond to those risks in a practical way, and to help their users navigate the uncertainty.
Some of those teams have really good cryptographers with an excellent grasp on the decisions they can make, others have to take their cues from trusted experts. There are so many dimensions to optimize along! And due to the complexity involved, it's almost impossible to explain this stuff to non-cryptographers.
Experts have to be cognizant of all this, and of their responsibility to be levelheaded.
After the fog clears up and people learn from their cryptographer friends what is actually going on, they're going to discover this was (at best) an unintentional marketing stunt and a lot of trust will be lost. And nobody will really know what to do...
This is a shame, because they are directionally correct. It actually meant something when they sounded the alarm before. They've just gradually descended into unhinged predictions without feedback to discourage it.
Can anyone, I mean seriously anyone, justify this debacle? It permanently colors all the legitimate concerns/predictions about classical crypto going forward. By their own admission, there was no new information that drove this. I think Justin Drake should explain how he thought this was the right approach, even if he genuinely believed what he was saying.
Baffling.
Zky retweeted
I’ve had a few people write to ask me to follow up on a (reply!) tweet I wrote that’s gotten a lot of retweets. I considered deleting it just to avoid the headache, but I think that would make people more paranoid. So let me share my thoughts.
This morning on my feed "Move your BTC to a fresh address, or offramp your crypto before AI breaks elliptic curves !"
Meanwhile your bank use TLS, PKI, card chips, all the same math, plus a guy named Gary who resets passwords over the phone
glhf
HIP-5 is coming soon
🇸🇬 DAS: Hyperliquid founder @chameleon_jeff says at @blockworksDAS that options are the obvious next piece for the platform, so traders can hedge them against spot and perps on the same order books.
Crazy distribution this week on hyperliquid:native , lot of coins are changing hands.
57M$ ETF positive flow
76M$+ PURR TWAP (mNAV still at 1.21)
Hermeneutic selling about 30M$+ and still have 40M$ HYPE which they are currently selling
Price performance on the week, totally flat.
There's a project that has:
+81% AUM YoY. ATHs across most metrics. Distribution live on Robinhood, Kraken, Revolut soon.
Token is a first-class citizen, revenue used for buybacks. Trading at ~15x P/E.
Token's down 70% from ATH.
Amazing to see projects fixing 2020–2021 issues, the token/equity dual model, and revenue accrual making token holders first-class citizens.
Just sad to see the amount of frontrunning in the days before, and the distribution the moment the announcement drops.
Still, Higher.
Guy is the goat
We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below:
1. Buyout of early investors:
The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any ENA within the last 9 months.
2. Alignment of Token & Equity:
The Ethena Foundation and Ethena Labs have reached agreement on a Master Framework Agreement, whereby IP and ownership of value accrued by the protocol is assigned to the Foundation exclusively and governed by token holders with no residual cash flow due to equity investors in the Labs entity.
3. Revenue Buybacks:
Governance proposal now live for the implementation of the fee switch whereby net revenue accrued across all business lines under the Ethena brand will be used to programmatically buy back the ENA token.
The vote for revenue buyback fee switch implementation is now here, and has already been approved by the Risk Committee:
snapshot.box/#/s:ethenagover…
4. Removal of monthly VC unlocks:
The Ethena Foundation and lead investors have agreed to eliminate future overhang associated with monthly VC investor unlocks by releasing unvested tokens. All team tokens remain locked per the original vesting schedules.
Further details and documentation is provided in the blog linked below:
